Extends the tax credit for certain new residential "energy efficient" property for 6 years and raises the total tax credit for new solar electric property from $2,000 to $4,000 (Sec. 104).

Extends the research tax credit, restaurant property depreciation tax credits, and optional state sales tax deductions for one year (Secs. 221, 225, 201).

Extends tax credits for biodiesel and renewable diesel used as fuel for one year, and raises the biodiesel credits and biodiesel mixture credits from 50 cents per gallon to $1 per gallon (Sec. 122).

Provides an additional standard deduction for real property taxes for non-itemizers of up to $350 or $700 for a joint return (Sec. 301).

Increases the child tax credit for low-income parents (Sec. 302).

Delays tax code provisions that would allow companies to allocate interest on a worldwide basis for 10 years (Sec. 402).

Mandates that compensation deferred under a nonqualified deferred compensation plan of a foreign corporation shall be includible in gross income in the absence of a substantial risk of forfeiture of rights to such compensation (Sec. 401).

Note:

NOTE: THIS IS A VOTE TO INVOKE CLOTURE ON A MOTION TO PROCEED, WHICH SENDS THE LEGISLATION TO THE FLOOR OF THE SENATE FOR DEBATE AND AMENDMENT. A MOTION TO PROCEED ALONE REQUIRES A MAJORITY FOR APPROVAL. HOWEVER, THE MOTION CAN BE FILIBUSTERED, AND WHEN THIS OCCURS, A CLOTURE VOTE IS NECESSARY TO VOTE ON THE MOTION TO PROCEED. A THREE-FIFTHS MAJORITY OF THE SENATE IS NECESSARY TO INVOKE CLOTURE.

Extends the tax credit for certain new residential "energy efficient" property for 6 years and raises the total tax credit for new solar electric property from $2,000 to $4,000 (Sec. 104).

Extends the research tax credit, restaurant property depreciation tax credits, and optional state sales tax deductions for one year (Secs. 221, 225, 201).

Extends tax credits for biodiesel and renewable diesel used as fuel for one year, and raises the biodiesel credits and biodiesel mixture credits from 50 cents per gallon to $1 per gallon (Sec. 122).

Provides an additional standard deduction for real property taxes for non-itemizers of up to $350 or $700 for a joint return (Sec. 301).

Increases the child tax credit for low-income parents (Sec. 302).

Delays tax code provisions that would allow companies to allocate interest on a worldwide basis for 10 years (Sec. 402).

Mandates that compensation deferred under a nonqualified deferred compensation plan of a foreign corporation shall be includible in gross income in the absence of a substantial risk of forfeiture of rights to such compensation (Sec. 401).